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New article on why class action might be a solution to the problems in Albania tiranaexaminer.com/give-the-…
Keler Marku retweeted
Under President Trump’s leadership, America’s economy is investing in its future rather than borrowing to consume cheap goods.
The evidence:
• Real federal gov't consumption is down 3.9% since Q4 2024
• Real business investment is growing at 6.9%, up from 3.8% in 2025 and 2.3% in 2024
•Public-company capex is on track to nearly double: $1.4T (2024) to $2.4T (2026)
• Capital goods just hit their highest share of U.S. goods imports on record while consumer goods hit their lowest
While we still run a trade deficit, borrowing to invest in the future is a far stronger position than borrowing to consume.
President Trump's agenda is working. CEA Chair Christopher Phelan in the @FT: ft.com/content/8c40598a-a946…
Keler Marku retweeted
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Important agreement between the International Stabilization Force and Albania that provides additional security operations support and operations planning capabilities for the mission in Gaza. Albania’s contributions add to those of Morocco and Kosovo, and will be critical in advancing governance, security, humanitarian efforts, the rule of law, and reconstruction.
Keler Marku retweeted
Some news?
I’m writing a book for @stripepress 🎉
THE PRICE CODE is (shockingly) about price theory and teaches the power of rigorous economic reasoning.
The book will explain how prices move, what they reveal about the world, and why most popular explanations are just empty
Keler Marku retweeted
The response to my post last week reinforced my instinct to put the facts out there, trust people to look at them fairly, and let them make up their own minds.
I especially appreciated hearing from people who reconsidered things they had previously believed after seeing the facts.
A recent article brought together many false claims and misperceptions about me that have accumulated and been repeated over the years. Rather than continue responding to them one at a time, I decided to address them all in one place, with supporting documents.
For anyone interested in the facts:
jaredkushner.com/posts/new-y…
Now, back to work.
Keler Marku retweeted
(reason #87 AGI won't directly lead to 10% GDP growth:)
I'm delighted to say that after much prodding (and slowing down my every institutional login) I have completed all 28 steps of @UCBerkeley mandatory cyber security training program!
Online phishing operators and scammers beware!
Keler Marku retweeted
You built SPAK. You funded it. You trained its prosecutors.
On 21 September they put Albania’s intelligence chief under house arrest while she sat in Baku with the heads of foreign services. The next day the file was in the newspapers: call counts, meetings, forms of address.
Would you have done this in your own capital?
I asked Albania’s NATO and EU partners one question. They should answer it.
@USEmbassyTirana @EUinAlbania @UKinAlbania @ItalyinALB @France_Albanie @SPAK_Albania
tiranaexaminer.com/what-woul…
Keler Marku retweeted
Wealth taxes can make capital markets more efficient‼️
Checkout our column in @ProMarket_org covering our research on how wealth taxes can unlock capital gains
🔗 promarket.org/2026/09/14/wea…
Keler Marku retweeted
Happy to have recorded this long conversation with Cristina Caffara on AI, global imbalances and everything in between. youtu.be/LPVo6FJn2zI?si=TXnI…
Keler Marku retweeted
One of the main value propositions of the university is that it provides research that has wide benefits on the one hand but is too dispersed or fundamental for the private sector to provide organically.
Thinking about that a lot today and yesterday for no reason in particular.
Keler Marku retweeted
Rama offered the flamingos his besa. Keler Marku argues Albania should give them something a government cannot take back: standing in a court of law. Why the buried 2021 draft law on collective actions, not Besa, is the real answer to this summer.
@kelermarku
tiranaexaminer.com/give-the-…
Keler Marku retweeted
Everything today feels angry😡. Is that just an impression, or is it in the data?🚨 New paper: we measure emotions in 150 yrs of US political discourse & millions of tweets & reddit comments & test how emotions shape policy views socialeconomicslab.org/resea… [1/14]
Keler Marku retweeted
Daron's response to the Economist's hit piece is forthcoming in Econometrica.
Keler Marku retweeted
What accounts for differences in markups across firms❓
New paper w/Juan Holguín & Sergio Salgado:
Most markup dispersion is found among firms of similar size instead of between large and small firms.
Data from 12 countries + Oligopolistic comp. model
🔗dx.doi.org/10.2139/ssrn.7149…
Keler Marku retweeted
Working on AI for science is disorienting.
On the one hand top mathematicians and scientists say research will never be the same.
On the other hand many still don't know that deep technical reviews better than you get from 80% of RAs and referees are now near-instant to get.
Today @RefineDotInk gets a backend upgrade - a new version that is uniformly stronger and deeper in thinking through potential issues.
We're also rolling out explicitly checking external references, so you'll begin to see beta comments on that.
1/
Keler Marku retweeted
Can wealth taxes make capital markets more efficient❓
Realization-based capital-gains taxes can lock investors into low-return assets
We show a properly designed wealth tax unlocks capital
New paper w/Guttorm Schjelderup & @ZoutmanFloris from @NHHnor
🔗ssrn.com/abstract=7125464 teapawt.net/socampdi/status/207989…
Keler Marku retweeted
You must be kidding. AI might have big effects. It could have risks. So “policymakers,” must "act now,” before they have any idea what they’re doing, to "build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society?” Boy I’m glad no self-appointed “policy maker” decided to “steer” the development of the steam engine. The ones who “steered” nuclear power destroyed it. Preemptive dirigisme is killing tech in Europe. If said “policy makers” could do something about the dumpster fires of US social programs, building restrictions, appalling costs of public infrastructure, broken tax code, failing schools, maybe I’d think about "calling" to unleash them on some vague AI crusade. (Previous essay on this here grumpy-economist.com/p/ai-so…)
Here's our statement on AI and the economy.
We Must Act Now
A Statement on AI’s Transformation of the Economy
1. AI may become radically more powerful over the next 10 years.
2. This could drive an unprecedented transformation of our economy, larger than the Industrial Revolution, but unfolding over a vastly shorter time frame. It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards.
3. Economists, policymakers and technology leaders must act now to understand the economics of transformative AI and to build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society.